city judge would you should do by what he says? joining me now, coke portfolio manager. and your cornerstone madcap 30 fund year today at 27%. slightly better than the s&p 500, not easy to do. year-over-year up 20%. you are bullish or bearish? >> bullish. that think there is opportunity left in the market. you know, i see a pullback. putting more to work. i think of the next few years we are expecting hide single-digit returns. nothing will be a blockbuster like this year, but certainly prices where i want to be invested in the equity market. liz: when you say pullbacks, all you have seen is a one to 3 percent pull back here and there. is that what you are talking about? we have not seen big drops in the market. >> and they're right. i think everybody has been kind of waiting for these to happen and they just have not materialized. one of the fortunate things that we do, we are mandated to basically keep less than 5% in cash. we constantly keep our money invested in the markets. because of that we have had good returns. liz: it has worked. that is the problem. a lot of p